deal and deposit question - Page 2

Ricirich071 · #16 (**permalink**) 05-22-2007, 07:51 PM

500.00 is standard I think. But if you give any kind of deposit, use a credit card. If the deal falls through or they deliver the truck missing anything or not as described or agreed on, you can dispute the payment with your credit card company. It's your only way of recourse to get your deposit back. Good luck if you write a check or God forbid leave a cash deposit.

Melsilva · #17 (**permalink**) 05-22-2007, 07:56 PM

Yo, Garrett!
Don't take that deal! PM me and I'll get you the hook up in Houston.

gdotgarrett · #18 (**permalink**) 05-22-2007, 09:02 PM

Yeah, I was thinking about using a credit card for that reason but I wasn't sure if they accept credit cards for the deposit. I'm not taking that deal that I described unless he comes off the price more and he isn't even replying. I may go to some dealerships in person this weekend. Sometimes I wonder if they just say 6 month delivery time to pursuade you to buy what they have available.

StatCoder · #19 (**permalink**) 05-23-2007, 02:26 AM

Remember, you only have 60 days from the date of your bill to contest. If you are waiting longer than that for delivery, you aren't going to be able to get your deposit back by that method. I have a deposit of $1,000 nonrefundable that I paid via credit card. However, I have a written contract with the exact specs and a set price. If they don't deliver this exact truck by 100 days then the contract is void. They would have no grounds to keep the deposit.

SFTundraMan · #20 (**permalink**) 05-23-2007, 10:38 AM

wow, awesome thread, $500 is normal for deposits. If it is truly a special order truck, it will take about 5-6 months, If they are allowed to just change an inbound one, then it is 2-3 months. Depends on what you are trying to get and how your region normally orders them.

Personally taking a refundable deposit is worthless. If I have to give you your money back anyway, where is the commitment on your part?

TundraWorld · #21 (**permalink**) 05-23-2007, 10:25 PM

Quote:

Originally Posted by gdotgarrett

I was exagerating by giving the fuel cost example. My point is that having a customer wait 6 months is a long time and all sorts of things could occur during that period. "Stuck with the truck", come on, you can't get a 4x4 crewmax sr5 at hardly any dealer in texas and that is why I have to order in the first place. The truck would easily sell down here. There is a lot more risk to me than to the Toyota dealership in this case!

6 months from now, you'll be looking at a 2008 model and the end-of-year incentives should be in full swing, making your current deal a BAD one. I think the latest you'll see the 2008's is January. I wouldn't be too surprised to see them in November.

I don't do deposits on vehicles. My word is as good as a check. If the dealer doesn't accept that, I buy from someone else. Of couse, I live in Oklahoma and we're a better breed of people than most

. No flames from my fine Texas neighbors down south.

TunTac · #22 (**permalink**) 05-24-2007, 12:54 AM

Quote:

TundraWorld

I don't do deposits on vehicles. My word is as good as a check.

Isn't that what Cushman's dad said to Jerry Maguire, before going behind his back and signing with Bob Sugar?

"You know I don't do contracts, but what you do have is my word, and it's stronger than oak!"

SFTundraMan · #23 (**permalink**) 05-24-2007, 10:21 AM

I had the same bull pulled on me the week before my vacation. I told the customer straight to his face, look me and the eye, shake my hand and we have a deal. I dont want a deposit. He went on and one about how his word is bond and even called me 30 mins later to tell me thank you for working with him, I go get the car for him and call him up to see what time he wants to pick it up. He says he will email me a time. Chicken **** was too scared to be a man and tell me that his word doesnt mean anything and bought the car elsewhere. It worked out for me cuz I had made a mistake and quoted him too low anyway so I was happy that he flaked out. lol

Moral of the story, deposits dont mean anything, Your word doesnt mean anything.

When you come pick up the car and drive away, that is when I believe we have a deal. It is sad though. I want to and continue to believe in people and get burned all the time.

I know I can sleep great at night, not too sure about them

StatCoder · #24 (**permalink**) 05-24-2007, 01:37 PM

Believe it or not, I prefer to make a deposit. Otherwise, I get the feeling that the sales manager just has a stack of truck configurations that he should be looking for as possible sales. With my deposit, he has a contract that says he must deliver the truck by this date or refund the deposit.

SFTundraMan · #25 (**permalink**) 05-24-2007, 02:06 PM

Quote:

Originally Posted by StatCoder

Believe it or not, I prefer to make a deposit. Otherwise, I get the feeling that the sales manager just has a stack of truck configurations that he should be looking for as possible sales. With my deposit, he has a contract that says he must deliver the truck by this date or refund the deposit.

so do you actually have a signed contract by both parties? if so, that is cool.

But unenforcable by either party here

StatCoder · #26 (**permalink**) 05-24-2007, 04:14 PM

Yes. I have a contract signed by both parties that says I deposit $1,000 non-refundable as long as the dealer delivers this truck with the exact specs including exact color within 3 months. The price is set. I guess they are listing an Option Combo for their region and counting the ability to change the color while giving themselves plenty of time to do it. I'm sure that there would be some negotiation if the exact specs could not be met. This is in New Mexico. I thought it was fair except I would have been happier with a shorter time frame just in case things fell through.

SFTundraMan · #27 (**permalink**) 05-24-2007, 04:22 PM

Quote:

Originally Posted by StatCoder

Yes. I have a contract signed by both parties that says I deposit $1,000 non-refundable as long as the dealer delivers this truck with the exact specs including exact color within 3 months. The price is set. I guess they are listing an Option Combo for their region and counting the ability to change the color while giving themselves plenty of time to do it. I'm sure that there would be some negotiation if the exact specs could not be met. This is in New Mexico. I thought it was fair except I would have been happier with a shorter time frame just in case things fell through.

I think it is totally fair but here in norcal, all deposits are refunable so it is worthless. And only a contract with a vin number is a real contract. So it all looks good but doesnt mean much. of course there are different rules for different places. I would love to have such thing in place here.

StatCoder · #28 (**permalink**) 05-24-2007, 05:06 PM

Sure, I could show up to pick up my truck and they could tell me that they sold it to someone else and hand me a refund check so it doesn't guarantee me a truck. I think it's a reasonable agreement, though, that I won't go shopping around somewhere else as long as the get me the a certain truck before a certain time at a certain price. I think that's a valid and enforceable contract.

I don't know if deposits like that are refundable in other states or not. Actually, one of the reasons why I placed a "non-refundable" deposit was that you said on this forum that in CA, all deposits are refundable. So, while I had no intention of breaking the contract and demanding a refund, I was pretty sure that I would be able to get my deposit back if I didn't get a truck for some reason. Most states probably have some kind of law like that on the books, however, it doesn't prevent you from stating to the customer that the deposit is non-refundable and getting them to agree to it, does it? There are all sorts of things put in contracts which are unenforceable.

SFTundraMan · #29 (**permalink**) 05-24-2007, 06:17 PM

Quote:

Originally Posted by StatCoder

Sure, I could show up to pick up my truck and they could tell me that they sold it to someone else and hand me a refund check so it doesn't guarantee me a truck. I think it's a reasonable agreement, though, that I won't go shopping around somewhere else as long as the get me the a certain truck before a certain time at a certain price. I think that's a valid and enforceable contract.

I don't know if deposits like that are refundable in other states or not. Actually, one of the reasons why I placed a "non-refundable" deposit was that you said on this forum that in CA, all deposits are refundable. So, while I had no intention of breaking the contract and demanding a refund, I was pretty sure that I would be able to get my deposit back if I didn't get a truck for some reason. Most states probably have some kind of law like that on the books, however, it doesn't prevent you from stating to the customer that the deposit is non-refundable and getting them to agree to it, does it? There are all sorts of things put in contracts which are unenforceable.

sure, I could lie to a customer and tell them that it is non refundable but lying is just not my style.

My tundra customers are all pretty good about being honest, but it is the other 22 car lines that will tell you anything and everything, lol

The great news is that I special ordered 4 trucks this allocation and somehow, all 4 were accepted. One special order has already got an eta and that has never happened before. So Toyota must be trying to build what you want. So that is good news for us both

SFTundraMan · #30 (**permalink**) 05-24-2007, 06:26 PM

My thoughts are, if either side can get out of it, what is the use?. I dont sell my customers cars from underneath them but I sure could if I wanted to. But you guys would all read about on here and I would be screwed, lmao

just like if my customer gave me a worthless deposit on a truck and told me he bought it from my rival store. Aint a damn thing I can do.

it is what it is, It hasnt changed since I have been in the business. So I just deal with it.

I have customers that want to make me take a deposit , so I do, but I rarely charge the card,

The only time I ever do is when they are adding something that I cant take off.